Insurance renewal can feel routine—but overlooking it could cost you coverage gaps, lost discounts, or unexpected premium increases. This step‑by‑step guide simplifies the process, helps you get the best terms, and shows why completing renewals with THAgency delivers smarter results.
1. Review Your Current Policy
Before you start, thoroughly evaluate your existing coverage:
Coverage details: Check limits, deductibles, and included endorsements
Expiry date: Mark your renewal deadline to avoid automatic renewals or late penalties
Claims record: Note recent claims that could impact premiums
Coverage changes: Identify any life or business changes— like new vehicles, employees, equipment, or property locations
2. Compare Current Premium to Market Rates
Renewals are a good time to verify premium competitiveness. Ask yourself:
Are you paying more than similar businesses with comparable coverage?
Have any available discounts lapsed—like multi-policy, safe driver, or bundling savings?
Are your limits still appropriate for your current risk profile?
THAgency reviews your renewal and benchmarks rates against nearly 100 top carriers to ensure you aren’t overpaying.
3. Update Accurate Information
Complete your renewal form with precise details:
Business address and operations
Number of employees or insured individuals
Asset or vehicle changes
Coverage limits and deductible preferences
Certificate‑holder updates (especially for landlords or contract partners)
Accurate information ensures proper coverage—and avoids potential claim denials.
4. Evaluate Changes in Risk and Coverage
Review if your insurance still fits your current circumstances:
Add-ins: You may need added protections—like cyber liability, umbrella coverage, equipment breakdown, or professional liability
Limit adjustments: Revenue growth, new locations, or new clients may require raising limits
Deductible review: Could a $500 or $1,000 deductible better balance your premium and out-of-pocket risk?
THAgency helps tailor your policy based on evolving business needs—so you have the right level of protection at a fair price.
5. Don’t Miss Discounts and Credits
Be sure to reapply for all eligible credits:
Multi-policy bundling
No-claims or claim-free discount
Safety or training program credits
Equipment upgrades (e.g., security systems, anti-theft devices)
At THAgency, we proactively flag and reapply these discounts to maximize your savings.
6. Ask Questions & Compare Multiple Offers
Don’t just sign—ask your agent:
Have marketplace options changed since your last renewal?
Are there carriers offering better coverage or service?
Does switching or adjusting your plan yield better terms?
THAgency provides side‑by‑side comparisons and expert guidance to help you make informed decisions.
7. Submit Before Deadline & Confirm Coverage
Once the form is complete:
Submit it before the deadline to avoid automatic renewals
Review pre-renewal documents like the Declaration Page and premium breakdown
Confirm with THAgency to ensure your best option is activated—and that you receive updated proof of coverage
Final Takeaway
Completing your insurance renewal form isn’t just a formality—it’s an opportunity to optimize coverage, save money, and avoid surprises. With careful attention and expert review, you can secure better terms each year.
Ready for a Smarter Renewal?
Get your free renewal review from THAgency today. We’ll analyze your current coverage, identify opportunities, and help you renew confidently with better protection and cost savings.
